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Brexit Threatens to Trip Up Derivatives Reporting

Brexit Threatens to Trip Up Derivatives Reporting

Posted on Fri, Mar 8, 2019 @ 7:08

By Samuel Wilkes
March 8, 2019, Risk

The story of derivatives reporting in Europe could be called ‘How to make life harder in three easy steps’. The first two steps – the overlapping requirements in the European Market Infrastructure Regulation and its younger sibling MiFIR – will soon be crowned by Brexit, and neither firms nor their overseers will escape unharmed.

Brexit will force changes to the fragile reporting arrangements brought in by Emir and the Markets in Financial Instruments Regulation, increasing complexity, firms’ costs and chances of mistakes in the reports of derivatives trades sent to regulators.